BankNewport can support your financing needs with a full complement of SBA Loans.
About SBA Loans
BankNewport is a U.S. Small Business Association Approved
Lender. When you apply for an SBA commercial loan for your Rhode Island or
Southeastern Massachusetts business through BankNewport, you can be confident
in your choice to work with us. We offer a variety of SBA loan programs to help
you enhance your business including lines of credit, term loans,
equipment loans, business acquisition loans, commercial mortgages, and so much
more.
If you aren’t familiar with SBA business loans, that’s OK –
we’re here to help. As with any of our services, we’ll be by your side from
start to finish. Our Commercial Loan Officer and SBA Specialist will teach you
all you need to know to successfully complete the application process.
SBA Loan Benefits
SBA guaranteed loans are term loans and/or mortgages obtained through a bank
or commercial lending institution and guaranteed by the SBA. The lending
institution provides the funds and terms, while the SBA guarantees as much as
80% of the loan principal.
The BankNewport Advantage
Not every business fits into a particular box, so
BankNewport offers a variety of special SBA loan programs to suit your
particular needs and goals.
SBA 7a Loan Program
The 7a Loan Program guarantees financing for a wide array of
general business purposes. This program helps to keep your commercial mortgage
payment lower and improve cash flow. Your 7a Loan options include our Express
Program, Export Loan Program, or Special Purpose Loans Program.
SBA 504 Loan Program
Ideal for commercial real estate purchases or the expansion
of your business, a 504 loan is designed for more traditional businesses. These
are delivered in conjunction with Certified Development Companies, more
commonly referred to as CDCs. The major benefits of this program are long-term, fixed-rate financing, and lower down payments.
Additional information can be obtained at the SBA website, which is: www.sba.gov
Lines of credit up to $75,000 and term loans up to $150,000 that are financed in conjunction with the SBAExpress Program are also supported within BankNewport’s Small Business Lending Program category.
Douglas Hanson
VP/Commercial Loan Officer-SBA Specialist
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How to Apply for an SBA Loan
To learn more about SBA Loan Qualification and SBA Loan Requirements, to
see current SBA Loan Rates, or to obtain an SBA Loan Application,
contact Vice President/Commercial Loan Officer/SBA Specialist
Douglas
Hanson at 845-8731 or via email at douglas.hanson@banknewport.com.
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